Roku (NASDAQ:ROKU) Stock Price Down 1.5% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 1.5% on Monday . The company traded as low as $78.28 and last traded at $80.04. Approximately 526,632 shares were traded during trading, a decline of 81% from the average daily volume of 2,823,082 shares. The stock had previously closed at $81.29.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several analyst reports. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. UBS Group initiated coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Rosenblatt Securities upped their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Up 0.3 %

The business has a 50-day moving average price of $77.60 and a 200-day moving average price of $71.71. The firm has a market capitalization of $11.99 billion, a P/E ratio of -68.82 and a beta of 2.05.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company posted ($2.33) EPS. The business’s revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post -1.09 EPS for the current year.

Insider Buying and Selling

In related news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares in the company, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock valued at $5,726,218 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 270 shares during the last quarter. Raelipskie Partnership acquired a new stake in shares of Roku in the third quarter valued at approximately $32,000. Future Financial Wealth Managment LLC acquired a new position in Roku during the 3rd quarter worth $43,000. GS Investments Inc. lifted its stake in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Roku by 50.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 991 shares of the company’s stock valued at $74,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.